DTN Early Word Grains 03/04 05:52

DTN Early Word Grains 03/04 05:52 Wheat Locks Limit Overnight as Rally Continues May corn is up 12 1/2 cents per bushel, May soybeans are down 7 1/4 cents, and May KC wheat is up 75 cents. Tregg Cronin DTN Contributing Analyst Pre-6 a.m. Globex Prices: May corn is up 12 1/2 cents per bushel, May soybeans are down 7 1/4 cents, and May KC wheat is up 75 cents. CME Globex Recap: Sharply lower equity trade in Asia and Europe overnight with U.S. futures posting moderate losses early Friday morning. Markets are expressing an understandable amount of concern about Russian forces reportedly attacking the largest nuclear facility in Europe. That said, we have seen no credible reports that damage has been sustained to the actual reactor itself, simply to ancillary buildings on the site. Energy markets are higher overnight although crude oil is trading several dollars off highs set Thursday following the Iran nuclear deal news. Heating oil is off more than 30 cents per gallon from Thursday's highs. The U.S. Dollar Index is making new highs for the move above 98.00, hitting the highest levels since June 2020. Metals are higher with copper leading gains, up 0.88%. Grain prices are mostly higher overnight with wheat locked limit up, corn up double digits and meal higher while soybeans and bean oil trade lower. Soybean oil, along with most other global vegetable oils, is trading sharply lower overnight. It would not appear we will take risk off the table heading into the weekend like we did a week ago. OUTSIDE MARKETS: Previous closes on Thursday showed the Dow Jones Industrial Average down 96.69 at 33,794.66 and the S&P 500 down 23.05 at 4,386.54 while the 10-Year Treasury yield ended at 1.844%. Early Friday, the March DJIA futures are down 206 points. Asian markets are lower with Japan's Nikkei 225 down 591.8 (-2.23%) and China's Shanghai Composite down 33.46 points (-0.96%). European markets are lower with London's FTSE 100 down 216.3 points (-2.99%), Germany's DAX down 458.76 points (-3.35%) and France's CAC 40 down 225.22 points (-3.48%). The March Euro is down 0.004 at 1.100 and the March U.S. dollar index is up 0.319 at 98.110. The June 30-Year T-Bond is up 32/32nds, while April gold is up $11.20 at $1,947.10 and April crude oil is up $2.60 at $110.27. Soybeans on China's Dalian Exchange were down -0.44% while soybean meal was up 0.46% and corn was up 0.49%.